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Topic: Is it legal to sell bitcoin for cash ? - page 3. (Read 27060 times)

newbie
Activity: 81
Merit: 0
December 02, 2018, 08:17:47 PM
Yes, I have never heard that someone got arrested for selling bitcoin. In my country, there are still no regulations that are implemented because bitcoin is still unknown to many of my citizens so at this moment selling bitcoins is legal.
selling bitcoin is not against the law, maybe even in any country, which is sometimes a problem usually moving to a certain bank and with an unnatural amount, this often raises the suspicion of the authorities, but things like this are very common, because the authorities must will always monitor big money movements because of anticipating money laundering, or other criminal acts, but the point is that exchanging bitcoin is legal.
jr. member
Activity: 84
Merit: 1
December 01, 2018, 06:20:41 PM
In most of countries, it's legal to sell bitcoin for cash , but from a certain amout  ( i think 10-15 000 dollars per year) or if you regulary sell bitcoin ,you have to  regulated your activity by getting a license, you will need to  apply KYC procedure  to  your customers  and pay taxes
basically selling bitcoin is not against the law, but if those sold in large quantities can cause many questions, and will raise a suspicion, maybe the best way we can sell it gradually, not at once, maybe if you sell it step by step and the amount sold also not too much this won't cause a negative perception, it's just a method, but basically selling bitcoin doesn't violate the law.
member
Activity: 350
Merit: 11
December 01, 2018, 10:01:39 AM
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.

Thanks for reading.
It's probably legal, but I think it depends on where you are because some countries have different policy and that's what makes them different in considering it. Besides, when you want to sell bitcoin for cash, I guess you'll get charge by paying taxes, but I'm not sure. It's just my opinion, I don't know what and how exactly it works.
newbie
Activity: 80
Merit: 0
November 28, 2018, 09:16:54 PM
Probably legal, I do not see anything strange that could make such a thing illegal. Most of the answers here are also legal, meaning many think that selling bitcoins with cash is legal. I do not know for sure, but it seems legal.
indeed it really depends on the country we live in, which can indeed distinguish its legal status, if we leave a country that supports bitcoin, then the status is clear, legal, which is a problem if we leave the country rejecting, the status changes, illegal, so Bitcoin status depends on each country.
hero member
Activity: 1806
Merit: 672
November 27, 2018, 01:09:19 PM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
It is a pity that the Indian government has banned it even though it is something that traders and crypto investors really want. maybe because some things made the government take that decision. but along with the development of Bitcoin and the increasingly improving Bitcoin, it is not impossible if Bitcoin will be legally traded back in India. I am sure of that.
From what I know India or RBI is only prohibiting cryptocurrencies as use as a payment method that only their own fiat currency is the legal way to buy goods and services but they haven't prohibited the direct exchange of other cryptocurrencies and even fiat currency. And from what I am reading India is actually trying to create its own cryptocurrency or two as they somehow want to eliminate their competition by way of regulation by RBI, hopefully this is just a phase in preparation for their ICO launch, after that we might see regulations to soften up in your country.
full member
Activity: 887
Merit: 100
November 27, 2018, 10:29:24 AM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
It is a pity that the Indian government has banned it even though it is something that traders and crypto investors really want. maybe because some things made the government take that decision. but along with the development of Bitcoin and the increasingly improving Bitcoin, it is not impossible if Bitcoin will be legally traded back in India. I am sure of that.
hero member
Activity: 1190
Merit: 500
November 27, 2018, 12:27:31 AM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
In my own country there has been no response regarding the legality of bitcoin, but there are many local exchanges that are flourishing in my country, so I can easily convert them to cash without any obstacles. yeah it depends on the rules in that country, there are some who forbid it. and local exchanges are banned in several countries..
newbie
Activity: 76
Merit: 0
November 26, 2018, 08:54:44 PM
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.

Thanks for reading.
exchanging bitcoin into ordinary currencies may not have a problem, usually the problem is if we transfer to a local bank, there will be a lot of questions, which is even worse if the country we live in does reject bitcoin and law enforcement is very aggressive when looking at the movement large amounts of money, because this can be categorized as unclear money, so it really depends on the status of the country we live in, and the answer to this will definitely be very diverse.
newbie
Activity: 71
Merit: 0
November 18, 2018, 08:09:10 PM
AFAIK it's legal. The only country that used to have a problem with that was USA and people were getting arrested for transmitting money without a licence, something that's not even required anywhere else. In the EU you can keep selling bitcoins in the street and as long as you have a street trading licence and don't forget to pay your taxes you're fine.
It seems like selling bitcoin with chas money has never been a serious problem, as long as the transaction does not violate the law, for example terrorist funding or to buy beavers is prohibited as illegal goods, but direct purchases and sales cannot be carried out in countries that reject bitcoin like Bangladesh and other countries that refuse bitcoin to exchange bitcoin with cash cannot be done.
full member
Activity: 616
Merit: 100
November 18, 2018, 07:58:41 AM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
yes, depending on where we sell it, in my country it's also not legal to sell Bitcoin in cash because the government hasn't legalized Bitcoin. there are even countries that have completely banned Bitcoin so that it violates the law if you have Bitcoin. but it's quiet only a matter of time until all countries will legalize Bitcoin. we only need to wait and believe in Bitcoin.
copper member
Activity: 29
Merit: 0
November 18, 2018, 01:27:17 AM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
In India, there are projects of crypto exchangers?
sr. member
Activity: 1988
Merit: 453
November 17, 2018, 09:43:37 PM
It depends on the country, right? Here in India, previously it was legal to sell your crypto-currency to fiat cash. However, now the RBI has made it clear that doing so is illegal within the Indian national borders.
jr. member
Activity: 84
Merit: 1
November 15, 2018, 09:02:27 PM
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.

Thanks for reading.
it seems like wherever we sell bitcoin is legal, because the sales system is online and over the internet, so it doesn't violate the law, after a sale we transfer to our country or destination country which is usually problematic,  all depends on our destination country , if this suspicious transaction can be a serious problem,  but basically exchanging bitcoin with that money doesn't violate the law, in my opinion ...
newbie
Activity: 70
Merit: 0
November 15, 2018, 08:19:50 PM
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.

Thanks for reading.
very legal, wherever we sell bitcoin does not violate the law because the sales system does not intersect with any bank, indeed after we sell we transfer to one of the banks in our respective countries,  it also does not violate the law,  I think it is legal maybe ..
hero member
Activity: 1190
Merit: 500
November 09, 2018, 08:53:38 PM
As long as the amount is not bigger than 500000$ in single transaction and the money you use to buy is clean not not used to laundered.... Sell your Bitcoin partially to keep people from n oh ng your financial record...
if you exchange cash on an exchange site there is certainly a limit to the amount of withdraw, but if you exchange it in individuals people, of course you can sell it whatever amount according to the ability of the buyer. and I don't think they will know your bitcoin from the money laundering or not? as long as there is no ban you are free to exchange it for cash...
full member
Activity: 700
Merit: 100
November 09, 2018, 06:43:45 AM
I think it depends on your jurisdiction, OTC and private sales in the US I think are totally fine.
there are countries that forbid it but there are countries that allow it. but I think it is something that is not prohibited because it is the right of every person to buy something while it is not a prohibited item. as far as I know that it is not permissible that Bitcoin cannot buy anything in some countries.
newbie
Activity: 1
Merit: 0
November 08, 2018, 01:24:22 PM
I think it depends on your jurisdiction, OTC and private sales in the US I think are totally fine.
copper member
Activity: 180
Merit: 0
November 08, 2018, 11:37:43 AM
Yes, at least while in the civilized world you can safely calmly and without risk in exchanging bitcoin for dollars or any other currency, the main thing is that the amount should not be large. Tax questions may arise!
jr. member
Activity: 84
Merit: 1
October 02, 2018, 12:54:29 PM
Yes, of course selling Bitcoin for fiat ( cash) is legal Shocked . I can't believe these guys, you can do that anywhere anytime.
jr. member
Activity: 280
Merit: 1
October 02, 2018, 06:35:42 AM
If in your country cryptocurrencies are regulated at the legislative level, I advise you to read the relevant regulations. If cryptocurrencies are not regulated in any way, then sell and buy as you want, the main thing is not to fall for scammers.
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